Hampshire College

Hampshire College participates in both the Federal Direct Loan Program (FDLP) and the Federal Family Education Loan Program (FFELP). The federal government, through these two programs, offers parents of dependent children attending an undergraduate school a loan to help pay educational expenses. This federal parent loan is the Parent Loan for Undergraduate Students, or PLUS loan.

The U.S. Department of Education provides the funding for the FDLP. Private lenders provide the capital for the FFELP. Guarantors provide the guarantee that the loan will be paid if the borrower defaults on the loan. Loan servicers maintain loan records and collect payments on the loans.

Parents may borrow a PLUS loan through either loan program. There is only one lender for the FDLP: the U.S. Department of Education. There are many FFELP lenders in the country. For your convenience we list the FDLP PLUS loan and several lenders offering the FFELP PLUS loan on this Web site. You may also conduct a Web search to identify additional lenders providing PLUS loans.

To help you through the PLUS application process, follow these easy steps:

STEP 1: Become familiar with the features of the PLUS loan. Learn about the interest rates, fees, repayment terms, postponement options, eligibility requirements, and other general features.

STEP 2: Review the general borrowing tips to give you an overview of the application process.

STEP 3: Choose a lender for your PLUS loan. Begin with comparing the various lenders we list on this Web site in the Review and Compare section. You will see that not all PLUS loans are the same. Take the time to review each lender's interest rates, borrower benefits, and payment incentives to choose the PLUS loan that best meets your current and future needs. Review the Things to consider when choosing a PLUS loan section for some help in determining which lender would work best for your needs.

STEP 4: If you have any questions along the way, please feel free to contact our loan counselor. Whether you need assistance determining the amount to borrow, which lender to choose, or whether a PLUS loan is right for you, please call upon our loan counselor for assistance.

STEP 5: Finally, apply for the PLUS loan. Once you have determined that the PLUS loan is right for you, and you have determined the amount you need to borrow, and you have decided on the PLUS loan lender, you are ready to apply for a PLUS loan. 

STEP 6: Review the The Loan Process section to learn what happens after you apply for the loan.

Good job! You are now done with the PLUS loan process. Your loan funds will be sent directly to us.